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Business Profile

Investment Management

Morgan Stanley

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

This profile includes complaints for Morgan Stanley's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Complaints Summary

    • 76 total complaints in the last 3 years.
    • 28 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:06/12/2025

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have a Morgan Stanley account which I am trying to close for over a year now. Every time I call, I get conflicting information, I get transferred, disconnect, told to call my branch (which I don't have, I never dealt with a ** ******** being put on hold for long times, multiple times during phone calls etc. About six weeks ago a ** representative called me and indicated he would send me documents to sign in order to close the account. I never received any documents. This is absurd and unacceptable. I need someone competent to contact me and close my account ****.

      Business Response

      Date: 06/30/2025

      We have received your recent communication to Morgan Stanley and want to thank you for taking the time to contact us. We value your business as well as your feedback, and take your concerns seriously. Please be assured that the issues you have raised will be reviewed and addressed as soon as possible. Your patience is much appreciated.

    • Initial Complaint

      Date:05/19/2025

      Type:Product Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Morgan Stanley will not release my money from my savings account. Please read attached document for details.

    • Initial Complaint

      Date:05/19/2025

      Type:Billing Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      A couple of years ago, I mistakenly deposited funds into my Traditional 401(k) account instead of my **** 401(k) account. Upon realizing the error in 2024, I contacted an E*TRADE retirement representative and explained that this was not a **** conversion and should not be treated as a taxable event. I was advised on the appropriate form to submit and completed it accordingly, clearly noting:Transfer the fund into the account which should have been in the **** 401(k) plan.Despite following the representatives instructions, I later received a Form 1099-R from Morgan Stanley (which acquired E*TRADE), incorrectly reporting the transfer as taxable in Box 2a, with code G in Box 7.Initially, I was told by the E*TRADE retirement department that a corrected 1099-R would be issued due to the special nature of the situation. However, I was later informed that Morgan Stanley declined to correct the form, stating this is how they report such transfers, despite the clear documentation and explanation provided. My escalated request for correction was also denied.I would like to point out that I have the same retirement plan with other brokerages such as TD Ameritrade and ******* ******, and they do not issue a Form 1099-R in such cases, because the plan administrator is my company, which handles the appropriate tax reporting. In fact, E*TRADE did not issue a 1099-R in prior years either. This issue only arose in 2024, following Morgan Stanleys acquisition of E*TRADE, which appears to have introduced a new, inconsistent reporting policy.I am filing this complaint because Morgan Stanley failed to acknowledge a clear administrative error and issued a 1099-R that inaccurately reports the transaction as taxable, potentially creating an unwarranted tax liability.

    • Initial Complaint

      Date:05/19/2025

      Type:Billing Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      A couple of years ago, I mistakenly deposited funds into my Traditional 401(k)account instead of my **** 401(k) account. Upon realizing the error in 2024, I contacted an E*TRADE retirement representative and explained that this was not a **** conversion and should not be treated as a taxable event. I was advised on the appropriate form to submit and completed it accordingly, clearly noting:Transfer the fund into the account which should have been in the **** 401(k)plan. Despite following the representatives instructions, I later received a Form 1099-R from Morgan Stanley (which acquired E*TRADE), incorrectly reporting the transfer as taxable in Box 2a, with code G in Box 7. Initially, I was told by the E*TRADE retirement department that a corrected 1099-R would be issued due to the special nature of the situation. However, I was later informed that Morgan Stanley declined to correct the form, stating this is how they report such transfers, despite the clear documentation and explanation provided. My escalated request for correction was also denied. I would like to point out that I have the same retirement plan with other brokerages such as TD Ameritrade and ******* ******, and they do not issue a Form 1099-R in such cases,because the plan administrator is my company, which handles the appropriate tax reporting. In fact, E*TRADE did not issue a 1099-R in prior years either. This issue only arose in 2024, following Morgan Stanleys acquisition of E*TRADE,which appears to have introduced a new, inconsistent reporting policy. I am filing this complaint because Morgan Stanley failed to acknowledge a clear administrative error and issued a 1099-R that inaccurately reports the transaction as taxable, potentially creating an unwarranted tax liability.

      Customer Answer

      Date: 06/12/2025

      Better Business Bureau:

      At this time, I have not been contacted by Morgan Stanley regarding complaint ID ********.

      Sincerely,

      **** *****

    • Initial Complaint

      Date:03/13/2025

      Type:Service or Repair Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I opened a bank I was never in the negative they closed my account without any notification or any reason I also called them 3/12/2025 they refuse to give me back my money by check or cash and they want me to jump through all these online hoops if a bank doesnt want my business and insist on closing my accountthey should give me back my money

    • Initial Complaint

      Date:03/06/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Received an e-mail from Discover card stating that a temporary hold was placed on my account requiring my consent to receive tax information from the *** to verify information on my account. Until the verification is complete a temporary hold was placed on my ************** threatened if I did not comply my account would be closed by creditor & reported as such to the credit bureaus.

      Business Response

      Date: 03/10/2025

      Good afternoon, 

      A Morgan Stanley account could not be located with the information provided. If there is additional information available, please reach out. It also appears this is directed at Discover and not MS.

      Thank you, 

      ******* ******* * ****** ******* ********** 

      ********************************************************************************** 

       

    • Initial Complaint

      Date:02/28/2025

      Type:Product Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On February 3rd or 4th (around there), there was a system update via the career portal which holds applications. More specifically, the application of which I submitted for the Return to Work Program Baltimore and **********. After close watch and the anticipation of the status on the position, I was eagerly anticipating the possibility of review and consideration. Unfortunately, I checked the portal for status and all my prior applications were deleted and or wipe clean without a trace. Initially, I assumed it was a glitch in the system and it self preserve and resurface. However, the latter did not happen. With the aforementioned said, I called to inquire of the same above. From there, I was given an email address of which to send inquiries. There were several emails exchanged but none ever answered me directly regarding the status of the application. Initially, the email (dated 02.10.25)response from ***** **************************************** of which an "out of office" response stating will reply upon return. Then, I received an email (dated 02.12.25) from Samantha ********************************************* referring me to Jamoul **************************************** for further communications. After some exchanges of communication were completed. I sent email (02.13.25) for "status inquiry" directly to Return To Work Program Staff along with other individuals. I have yet to receive a *********** the deadline is near for the Return to Work program tentatively starting March 3rd, my goal is to ensure my information was considered as I submitted timely according to the deadline 10.31.24. Ideally, I want to make sure my information was indeed reviewed for the aforementioned opportunity. Due to the fact, my prior application history was wiped clean during the update. It is my concern if I was indeed part of the candidate pool.

      Business Response

      Date: 03/14/2025

      Good afternoon, 

      This appears to be an HR issue as it involves the individuals application for the Morgan Stanley Return to Work Program in ********* and **********. HR has been made aware.

       

      Thank you. 

      Customer Answer

      Date: 03/17/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

      I have not seen any update or verification of submission on website I have not seen idea of if I am being considered 

       

       

       

       

      In order for the BBB to appropriately process your response, you MUST answer the question above.


      Sincerely,

      ****** **********




       

      Business Response

      Date: 04/28/2025

      This matter has been escalated to **************** Thank you.

      Customer Answer

      Date: 05/02/2025

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      ****** **********



       

    • Initial Complaint

      Date:02/26/2025

      Type:Customer Service Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Regarding debit card claim number ************** with E*Trade: Morgan Stanley and E*Trade have not applied a temporary credit to my account for the amount of this dispute within the 10 business day time frame (Monday February 18, 2025 deadline). When I have called in to E*Trade, representatives have been unhelpful, stating that my dispute is not eligible for a credit because its not fraud. The reason for this claim is transaction paid by other means, which falls under Regulation E protection. Morgan Stanley and E*Trade are going against federal regulations, acting illegally and unethically. I have sent E*Trade and Morgan Stanley my documents to prove this claim is valid (statement from alternate payment card showing matching transactions and email from merchant confirming the error), which they confirmed were received on several phone calls. Morgan ******* and E*Trade need to apply the temporary credit to my account immediately and use the documents I sent in to resolve this claim in my favor.

    • Initial Complaint

      Date:02/05/2025

      Type:Service or Repair Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      On 1/21/25, I opened new *********************** and CashPlus accounts with a ********************** ***************** Advisor (**** Money) via a telephone appointment. I was informed the accounts were opened and I received confirmation emails during the appointment. I completed all forms and verifications that were requested of me. I was directed to fund the account with $25,000, which I proceeded to do from my *************** checking account. The transaction posted in my AAA account with "funds received" confirmation #********* with a posting date of 1/21/25. I was told the next steps were to call to have the funds transferred into the Morgan ******* ***************** acct. However, after speaking to several Morgan Stanley Virtual Advisors over several days, I was informed that my account application had been rejected (notwithstanding the fact that it had been OPENED and FUNDED) and there was some type of "flag" on my account. It took 2 additional calls just get my a funds transfer back to my *************** account.None of the ***************** Advisors were able to give me any type of answer as to why Morgan Stanley was now rejecting my application. I also was not given an opportunity to understand what information Morgan Stanley may have seen that led to this decision so that I would have a chance to correct inaccuracies or provide clarification.I am requesting that a Morgan Stanley executive leader review how my account was handled and if an error was made, to take measures to reopen my account. If my account still cannot be opened, I am requesting an explanation for this decision in writing. Thank you for your timely consideration.

      Customer Answer

      Date: 03/02/2025

      Better Business Bureau:

      At this time, I have not been contacted by Morgan Stanley regarding complaint ID ********.

      Sincerely,

      ******* ***

    • Initial Complaint

      Date:01/27/2025

      Type:Service or Repair Issues
      Status:
      Unanswered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I keep getting statements on stocks that I have NEVER purchased or gotten. I believe this is all somehow tax purpose fraudulent. They were advised to close this account as the actual owner of these stocks have been in bankruptcy.

    Morgan Stanley is NOT a BBB Accredited Business.

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